After the snatch, Reliance has no body bruises...
Vodafone to buy out rest 35.62% shares of Vodafone India at price of ₹10k Crores, taking advantage of the relaxation in FDI rules.
- It seemed like a killer blow for Reliance, losing 80% of the prolific KG-D6 block.
- But strangely the company's shares rose by 0.7% on BSE yesterday.
- Now the actual thing behind all this is that the real meat (more than 50% natural gas) of the D6 block remains in the 20% area that remains under Reliance's control.
- Reliance seems to be the lucky loser.
- The GoI is likely to introduce the much delayed Direct Taxes Code Bill in the Parliament's next winter session.
- The bill seeks to replace the Income-Tax Act of 1961 with a completely new legislation.
Vodafone to buy out rest 35.62% shares of Vodafone India at price of ₹10k Crores, taking advantage of the relaxation in FDI rules.
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